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  • Reed Elsevier has signed a definitive agreement to sell-off two businesses from its Harcourt Education to Pearson for $950 million in cash. The package includes Texas-based Harcourt Asssessment, a testing and performance measurement service for educational and clinical use, and Harcourt Educational International, a publisher of educational materials in Oxford.
  • The UK's Financial Services Authority (FSA) is reviewing with concern the impact the explosive growth of the credit derivative market could have on future bankruptcies
  • Research shows that companies listing in New York enjoy unique governance benefits, even as London gains foreign listings
  • The fight over Australian airline Qantas has taken another surprise turn, as bidder APA claimed a legal loophole meant it held the rights to more than 60% of Qantas
  • White & Case has hired partners Andrew Croxford and Andrew Caunt from McDermott Will & Emery. The duo specialize in equity capital markets and have over 20 years of experience. "The equity capital markets are in a period of sustained growth at the moment," said partner Tim Jeveons. "As a result, our pipeline of work is continuing to grow and we needed to add further partner resource in London to meet rapidly escalating client demand."
  • Microsoft has agreed to acquire European mobile advertiser ScreenTonic from its founders, 3I, and I-Source for an undisclosed fee.
  • New FTSE guidelines mean that foreign companies listing in London will have to promise to meet UK corporate governance and investor protection standards before they are allowed onto the market
  • Orrick Herrington & Sutcliffe announced today that James Tervo has been named head of its Asian real estate practice.
  • In a move hoped to build its presence in India, Allen & Overy announced today the sponsorship of a local law professor
  • Tahir Ahmed has left Norton Rose to join Ashurst's Dubai office as a partner. Ahmed is known in the Middle East for his work in equity capital markets, M&A, private equity, fund formations, joint ventures, sukuk and financial regulatory matters.